Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Andrew Alford Sells 3,175 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now owns 9,173 shares of the company’s stock, valued at $1,539,412.86. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Nexstar Media Group Stock Down 1.5 %

Shares of NASDAQ:NXST traded down $2.56 during trading on Wednesday, hitting $165.02. The company’s stock had a trading volume of 42,897 shares, compared to its average volume of 332,251. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.27. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $5.32 billion, a PE ratio of 14.18, a PEG ratio of 0.19 and a beta of 1.49. The stock’s 50-day moving average price is $169.32 and its two-hundred day moving average price is $165.93.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $2.64 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently bought and sold shares of the stock. Delphi Management Inc. MA raised its position in Nexstar Media Group by 2.9% in the second quarter. Delphi Management Inc. MA now owns 10,227 shares of the company’s stock worth $1,698,000 after acquiring an additional 286 shares in the last quarter. Founders Financial Alliance LLC lifted its holdings in shares of Nexstar Media Group by 21.5% in the second quarter. Founders Financial Alliance LLC now owns 2,950 shares of the company’s stock valued at $490,000 after purchasing an additional 522 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Nexstar Media Group by 5.2% during the second quarter. Truist Financial Corp now owns 9,733 shares of the company’s stock valued at $1,616,000 after buying an additional 482 shares in the last quarter. Quarry LP raised its position in Nexstar Media Group by 77.8% during the second quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after buying an additional 130 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in shares of Nexstar Media Group by 38.7% in the second quarter. Sunbelt Securities Inc. now owns 785 shares of the company’s stock worth $130,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NXST shares. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. Wells Fargo & Company cut their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.